Axis Says Not Liable In Mortgage Co. Securities Suit

Law360, New York (May 21, 2009, 12:00 AM EDT) -- Axis Surplus Insurance Co. has asked a judge to declare that it cannot be liable to investors who lost money from Berman Mortgage Corp.'s alleged violations of Florida state securities laws, saying an insurance policy between the two companies ended before any claims were filed.

In a complaint filed Thursday in the U.S. District Court for the Southern District of Florida, Axis sought declaratory judgment establishing that it has no coverage obligation, for defense or for indemnity, to respond to any claims made by Michael Goldberg...